Analysts Set Lithium Americas Corp. (NYSE:LAC) PT at $5.50

Lithium Americas Corp. (NYSE:LAC) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

LAC has been the subject of several recent research reports. Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. B. Riley dropped their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th.

Lithium Americas Stock Down 4.2 %

Shares of LAC stock opened at $3.19 on Friday. The business’s fifty day moving average is $2.61 and its 200 day moving average is $3.27. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.86.

Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Analysts forecast that Lithium Americas will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in shares of Lithium Americas in the second quarter worth $520,000. Marshall Wace LLP bought a new stake in shares of Lithium Americas during the 2nd quarter valued at about $10,252,000. Virtu Financial LLC bought a new stake in shares of Lithium Americas during the 4th quarter valued at about $217,000. Merewether Investment Management LP purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at about $858,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Lithium Americas by 8.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after purchasing an additional 18,388 shares during the period.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.